LaRouche on Fed's New Panic Rate Cut: 'Bush and Bernanke Are Out To Sink the Dollar!'
January 30, 2008 (LPAC)--Economist and statesman Lyndon LaRouche had called the Federal Reserve's panicked, three-quarter percent cut in the Fed funds rate on Jan. 22, the trigger for imminent "hyperinflation" of the type which destroyed Weimar Germany in 1923. LaRouche has proposed the only sane alternative: a two-tier rate policy directing low-interest credit to protected economic activity and growth, while setting a high interest rate for the masses of speculative debt the Fed is currently supporting.
In response to today's second large rate cut in eight days, and the Fed's accompanying statement promising more cuts in the immediate future, LaRouche gave a very blunt warning. "Bush and Bernanke are out to sink the dollar," LaRouche said. "This has to be clearly said, and it has to be stopped. President Bush has to be sent back to rehabilitation. This policy means Weimar Germany, 1923, hyperinflation revisited, and it is absolute lunacy for any government to take, or to follow.
"In the vernacular," LaRouche said, "these guys are really nuts. They may appear to be headed toward a zero-interest-rate hyperinflation policy, but they're not going to survive to get there. The nation may not survive for them to do much more of this.
"This crisis," he concluded, "has shown the President of the United States clinically insane. He's pushing `Ezra Pound's dollar'--put him in St. Elizabeth's!" (Fascist poet Pound was a notorious Mussolini mouthpiece, and pushed the British "real money" theory of the dollar, even after he was institutionalized in St. Elizabeth's Hospital in Washington, D.C.)
The Fed's half-percent rate cut today was accompanied by more inflationary "stimulus package" proposals from Congress, including a new one from Senate Finance Committee chairman Max Baucus that LaRouche ridiculed as "Baucus's financial French tickler."Kopačky na fotbal